General inspection of gold business, exposing many tricks

According to the Plan for specialized inspection to strictly control compliance with legal regulations in gold trading activities in 2024, the Hanoi City Market Management Department said that through statistics, there are 116 enterprises subject to specialized inspection.

In the list, there are many large gold and gemstone trading enterprises in the city such as: Bao Minh Gold and Gemstone Company, Bao Tin Gold and Gemstone Company Limited, Huy Thanh Gold and Gemstone Company Limited; Phu Tai Gold and Gemstone Company, PLJ Phuc Long Company Limited...

According to the investigation, the specialized inspection of gold products by the Market Management Agency is being vigorously promoted. The inspection groups include business registration and business conditions; compliance with legal regulations on product labels; price posting and selling at the correct listed price.

Next is to check goods and invoices related to the origin of goods; comply with legal regulations on intellectual property, e-commerce...

Mr. Tran Huu Linh - General Director of the General Department of Market Management (Ministry of Industry and Trade), said that recently, the gold market has been complicated, prices have increased rapidly, this agency has directed functional forces to continuously inspect and control.

After authorities launched a nationwide inspection, many violations in the gold and jewelry business were discovered.

Mr. Linh said that the violations were mainly products of unknown origin. In particular, many gold jewelry products showed signs of infringing on the industrial property rights of famous brands such as Chanel and Cartier in the form of earrings, bracelets, rings, necklaces, etc.

According to regulations, violations of intellectual property rights (trademark infringement, trademark counterfeiting) can be subject to administrative fines of up to VND 250 million for individuals and VND 500 million for organizations.

According to the General Department of Market Management (Ministry of Industry and Trade), inspections of gold metal products will continue to be stepped up from now until the end of 2024 nationwide, in order to contribute to stabilizing the gold market.

In addition to inspections at gold shops, the General Department of Market Management is also coordinating with local agencies to monitor gold sales on social media accounts. This is also the most comprehensive and rigorous inspection since the beginning of the year following the Prime Minister's telegram on controlling gold trading activities.

Source: https://laodong.vn/kinh-doanh/tong-kiem-tra-kinh-doanh-vang-lat-tay-nhieu-manh-khoe-1384145.ldo